Earnings Alert – ViewRay, Inc. (NASDAQ:VRAY)

ViewRay, Inc. (NASDAQ:VRAY) moved with change of -2.06% to $8.07 with the total traded volume of 671456 shares in recent session versus to an average volume of 615.17K. The stock was down in the 5 days activity -1.79%. The one month performance of stock was high 0.73%. VRAY shares are -6.04% for the quarter and driving a 49.28% rally over the course of the past year and is now up -11.02% since this point in 2018. The average volatility for the week and month was at 5.27% and 5.56% respectively.

ViewRay, Inc. (NASDAQ:VRAY) today announced financial results for the fourth quarter and full year ended December 31, 2017.

Full Year 2017 Highlights:

Total revenue of $34.0 million, primarily from six revenue units, up from $22.2 million, primarily from four revenue units, in 2016.

Received new orders for MRIdian Systems totaling $113.6 million, up from new orders totaling $77.0 million in 2016.

Total backlog grew to a record $203.6 million, as of December 31, 2017, up from $133.2 million, as of December 31, 2016.

Fourth Quarter 2017 Highlights:

Total revenue of $19.9 million, primarily from four revenue units, up from $16.1 million, primarily from three revenue units, in Q4 2016.

Received new orders for MRIdian Systems totaling $34.1 million, up from new orders totaling $24.3 million in Q4 2016.

Financing:

On March 5, 2018, the Company closed a direct registered equity offering with an affiliate of Fosun International Limited for aggregate gross proceeds of approximately $59.1 million.

“2017 was a pivotal year for ViewRay, during which we received FDA clearance for the MRIdian Linac and generated substantial growth in new orders and backlog, and recognized revenue for six MRIdian Linac systems,” said Chris A. Raanes, president and chief executive officer of ViewRay. “We are well positioned in 2018 to drive continued growth in new orders and installations of our MRIdian Linac System.”

Financial Results

Total revenue for the fiscal fourth quarter ended December 31, 2017 was $19.9 million, compared to $16.1 million for the same period last year. Total revenue for the full year 2017 was $34.0 million, compared to $22.2 million for the full year 2016.

Cost of product revenue was $15.2 million for the fiscal quarter ended December 31, 2017, compared to $17.0 million for the same period last year. Cost of product revenue was $25.5 million for the full year 2017, compared to $23.9 million for the full year 2016.

Total gross profit (loss) for the fiscal quarter ended December 31, 2017 was $4.3 million, compared to $(1.2) million for the same period last year. Total gross profit (loss) for the full year 2017 was $6.3 million, compared to $(3.6) million for the full year 2016.

Total operating expenses for the fiscal quarter ended December 31, 2017 were $17.1 million, compared to $9.3 million for the same period last year. Total operating expenses for the full year 2017 were $54.5 million, compared to $40.5 million for the same period last year.

Net loss for the fiscal quarter ended December 31, 2017 was $(24.6) million, or $(0.38) per share, compared to $(11.0) million, or $(0.25) per share, for the same period last year. Net loss for the full year 2017 was $(72.2) million, or $(1.23) per share, compared to $(50.6) million, or $(1.26) per share, for the full year 2016.

ViewRay had total cash and cash equivalents of $57.4 million at December 31, 2017.

Financial Guidance

For the full year 2018, ViewRay anticipates total revenue to be in the range of $80 million to $90 million.

Shares of ViewRay, Inc. have been recently spotted trading -24.15% off of the 52-week high price. On the other end, company shares have been noted 83.41% away from the low price over the last 52-weeks. 52 week range of the stock remained $ 4.40 – 10.64. Switching over to some distances from popular moving averages, we see that the stock has been recorded -7.81% away from the 50 day moving average and 11.87% away from the 200 day moving average. Moving closer, we can see that shares have been trading -2.47% off of the 20-day moving average.

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